Will 2014 Be the Year to Go Global?

Economic volatility over the past few years led companies to adopt risk-averse strategies as they looked to keep costs low and protect their assets.

Such reticence became the ‘new normal’ and growth and expansion plans were put on the back-burner (or shelved completely) as companies opted to keep new projects to a strict minimum.

But things are changing. Slowly, firms are switching from hibernation strategies to growth strategies, looking to tap into new markets, bring in new customers, develop new products and enjoy increased sales.

New research from Royal Mail, for example, shows that UK online retailers who export are planning to increase international sales in 2014.

Going global but thinking local is a well-worn phrase, but what does it really mean? How best to do it? The economy might be improving, but how can you make sure your international expansion plan is a success?

Here we detail the Royal Mail study and talk about some of the tactics you should think about to support plans for global growth plans.

Key findings

59% of the online retailers polled by Royal Mail are targeting international sales growth this year and the same number believe sales will increase in 2014

68% will target new international markets

While established English-speaking nations remain the strongest regions for potential growth, Russia, China (the second-most-popular target), Canada and European countries are in the mix too

Plans of action

32% will look to develop a website with the domain address of the country they are targeting

Four in ten will target improved online search activities

21% are planning to roll-out targeted direct mail campaigns to win new business

Going global

Translated website content, social media and email marketing

Effective marketing campaigns are crucial to the success of any international expansion initiative. And your strategy must be multilingual. If you think English-only content will work, you’d be wrong. In order to communicate with people (and win them as customers), it’s vital you speak to them in their language.